• 4 minutes Permian in for Prosperous and Bright Future
  • 7 minutes Amount of Oil Usage in the United States
  • 10 minutes America Could Go Fully Electric Right Now
  • 55 mins Kalifornistan, CO2, clueless politicians, climate hustle
  • 11 mins Something wicked this way comes
  • 1 hour JP Morgan Christyan Malek, report this Summer .. . We are at beginning of oil Super Cycle and will see $190 bbl Brent by 2025. LOL
  • 14 hours Tesla Battery Day (announcements on technology)
  • 20 hours US after 4 more years of Trump?
  • 1 day Famine, Economic Collapse of China on the Horizon?
  • 2 days .
  • 15 hours Ten Years of Plunging Solar Prices
  • 16 hours Why NG falling n crude up?
  • 2 days Natural Gas Saves Southern California From Blackouts
Do Gold Stocks Still Have Upside?

Do Gold Stocks Still Have Upside?

Gold miners’ stocks rocketed out…

Where Did Gold Come From: Black Holes, Aztecs And The Gods

Where Did Gold Come From: Black Holes, Aztecs And The Gods

Humanity’s obsession with gold has persisted…

Gold Prices See Best Month In 8 Years

Gold Prices See Best Month In 8 Years

A cocktail of economic uncertainty,…

Mad Hedge Fund Trader

Mad Hedge Fund Trader

John Thomas, The Mad Hedge Fund Trader is one of today's most successful Hedge Fund Managers and a 40 year veteran of the financial markets.…

More Info

Premium Content

More Reasons to Buy Gold

As a four decade observer of the global financial markets, I often see a situation where the higher a price goes, the more reasons for it to rise come out of the woodwork. That is happening with gold now.

Yesterday, I learned that Anglo Gold Ashanti is spending $1.375 billion to take its gold hedges off. The obvious implication here is that they have studied the long term supply and demand for the lustrous product, and believe that the downside risk no longer exists. When an organization with far more massive resources than I reaches such a conclusion, should I follow suit? Barrack Gold (ABX) did the same a year ago, and the move was one of the sparks that ignited the jump in the yellow metal from $950 to $1,200.

And then I read in the Financial Times today that central banks are planning to buy 15 tonnes of the barbarous relic in 2010, flipping them from net sellers to net buyers for the first time in 20 years. For the past decade, central banks averaged 442 tonnes/year in sales. Gone are the perpetual rumors of the elusive 400 tonne IMF sale that overhung the market. It seems the list of emerging market central banks loading up on gold is growing by the day. I think the outlook for the value of my gold teeth is looking pretty good these days.

By. Mad Hedge Fund Trader


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News